Karnataka High Court

Smt Aishwarya Agarwal vs M/S Keerthi Properties on 11 January, 2024

Author: K.Somashekar

Bench: K.Somashekar

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                                                             COMAP No. 21 of 2023




                             IN THE HIGH COURT OF KARNATAKA AT BENGALURU

                                 DATED THIS THE 11TH DAY OF JANUARY, 2024

                                                 PRESENT
                                   THE HON'BLE MR JUSTICE K.SOMASHEKAR
                                                      AND
                                   THE HON'BLE MR JUSTICE UMESH M ADIGA
                                   COMMERCIAL APPEAL NO. 21 OF 2023
                        BETWEEN:

                        1.    SMT AISHWARYA AGARWAL
                              AGED ABOUT 44 YEARS,
                              W/O MR SHANKARLAL AGARWAL

                        2.    SRI SHANKARA LAL AGARWAL
                              W/O LATE BILAS RAI AGARWAL,
                              AGED BOUT 70 YEARS.

                              BOTH ARE RESIDING AT
                              FLAT NO.D-103,
                              ADARSHA PALACE
                              47TH CROSS, 5TH BLOCK
                              JAYANAGAR,
                              BENGALURU - 560 041
Digitally signed by D
HEMA
Location: HIGH COURT
                                                                     ...APPELLANTS
OF KARNATAKA
                        (BY SRI VIJAYA KUMAR K., ADVOCATE)

                        AND:

                        1.    M/S KEERTHI PROPERTIES
                              NO 118/2 KEERTHI PRIDE
                              DODDA THOGURU (D)
                              BEGURU (H)
                              BENGALURU - 560 100
                              REPRESEMTED BY ITS PARTNER

                        2.    SRI K V ANJANEYA REDDY
                              S/O LATE V VENKATAREDDY
                                -2-
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                                       COMAP No. 21 of 2023




     AGED ABOUT 42 YEARS,
     R/AT NO 13/1 1ST CROSS
     MUNISHWARA BLOCK
     MAHALAKSHMIPURAM
     BENGALURU - 560 086.

3.   SRI G B BABU REDDY
     S/O BYRAREDDY G V
     AGED ABOUT 41 YEARS,
     R/AT NO 46/2 3RD CROSS
     BYATARAYANAPURA
     BENGALURU - 560 092.

4.   SRI P SIVANGANGDHAR
     S/O P GANDARAO
     AGED ABOUT 37 YEARS,
     R/AT NO 28, 12TH CROSS
     PAMPA EXTN
     KEMPAPURA, HEBBALA
     BENGALURU - 560 027

5.   SRI K VAMSIDHAR REDDY
     S/O LATE K RAMACHANDRA REDDY
     AGED ABOUT 32 YEARS,
     R/AT NO.48, FLAT NO.203
     2ND FLOOR
     SIVASAL RESIDENCY
     LAKE CITY TOWN SHIP
     5TH CROSS T C PALYA
     K R PURAM
     BENGALURU 560036
                                             ...RESPONDENTS
(BY SRI NAVEEN KUMAR N.S., ADVOCATE FOR
 SRI VISWANATHA SETTY V., ADVOCATE FOR R1 TO R5)

      THIS COMMERCIAL APPEAL IS FILED UNDER SECTION
13(1-A) OF THE COMMERCIAL COURTS ACT, 2016, PRAYING
TO   SET   ASIDE   THE    JUDGMENT    AND   DECREE    DATED
02.07.2022,   PASSED     IN   COM.O.S.NO.613/2021,   BY   THE
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                                       COMAP No. 21 of 2023




LXXXVII ADDL. CITY CIVIL AND SESSIONS JUDGE (EXCLUSIVE
COMMERICIAL COURTS AT BENGALURU CITY, (CCH-88) AND
DISMISS THE SUIT OF PLAINTIFF AND TO CALL FOR RECORDS
IN COM.O.S.NO.613/2021 ON THE FILE OF LXXXVII ADDL.
CITY CIVIL AND SESSIONS JUDGE AT BENGALURU CITY (CCH-
88).

       THIS COMMERCIAL APPEAL, COMING ON FOR ORDERS,
THIS DAY, K.SOMASHEKAR J., DELIVERED THE FOLLOWING:


                         JUDGMENT

This appeal is filed by the defendant Nos.1 and 2

challenging the order dated 02.07.2022 passed in

Commercial Original Suit No.613 of 2021 by the LXXXVII

Additional City Civil and Sessions Judge, Bengaluru and have

sought to dismiss the suit of the plaintiff by allowing this

appeal, by urging various grounds.

2. The appellants submits that the respondents

herein who are the plaintiffs before the Trial Court filed the

suit in Com.O.S.No.613 of 2021 against them for recovery of

a sum of Rs.89,96,000/- along with future interest at the

rate of 24% per annum from the date of suit till the date of

payment. The Trial Court partly decreed the suit of the

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plaintiffs with costs, directing the appellants/ defendants to

pay jointly and severally to the plaintiffs a sum of

Rs.50,00,000/- with interest at 18% per annum, from the

date of the payment, till realization and further were directed

to pay costs of the suit to the plaintiffs.

Aggrieved by the said order, the defendants have filed

the present appeal. After filing of this appeal, on

30.01.2023, this Court was pleased to stay the judgment

and decree passed in Com.O.S.No.613 of 2021, subject to

deposit of Rs.30,00,000/- before this Court and in

compliance of the order dated 30.01.2023, the appellants

have deposited a sum of Rs.30,00,000/- before this Court by

way of Demand Draft bearing No.020209, drawn on HSBC

Bank, Bengaluru.

3. The learned counsel on both sides as well as the

parties to the proceedings are present before the Court

physically and submits that they have filed compromise

petition under Order XXIII Rule 3 of the Code of Civil

Procedure, 1908 and submits that they have amicably settled

the subject matter of the suit at the intervention of the well-

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wishers and friends and accordingly, the parties have agreed

to settle the dispute in the following terms:

"4. The Respondents have agreed to receive a sum of Rs.50,00,000/- (Rupees Fifty lakhs Only) from the appellants as full and final settlement amount in the following manner:

(a) Rs.6,50,000/- (Rupees Six Lakhs Fifty Thousand Only) by way of demand draft bearing No.022090, dated 08.01.2024, drawn on State Bank of India, J.P.Nagar, Branch, Bengaluru, in favour of Respondent No.2, K.V.ANJANEYA REDDY receipt of which the Respondent No.2 hereby acknowledges the same.

(b) Rs.5,00,000/- (Rupees Five Lakhs Only) by way of demand draft bearing No.022091, dated 08.01.2024, drawn on State Bank of India, J.P. Nagar, Branch, Bengaluru, in favour of Respondent No.3, G.B. BABU REDDY receipt of which the Respondent No.3 hereby acknowledges the same.

(c) Rs.5,00,000/- (Rupees Five Lakhs Only) by way of demand draft bearing No.022092, dated 08.01.2024, drawn on State Bank of India, J.P.Nagar, Branch, Bengaluru, In

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favour of Respondent No.4, P.SHIVAGANGADHAR receipt of which the Respondent No.4 hereby acknowledges the same.

(d) Rs.3,50,000/- (Rupees Three Lakhs Fifty Thousand Only) by way of demand draft bearing No.022093, dated 08.01.2024, drawn on State Bank of India, J.P. Nagar, Branch, Bengaluru, in favour of Respondent No.5, K.Vamsidhar Reddy, receipt of which the Respondent No.5 hereby acknowledges the same.

(e) The appellants have deposited a sum of Rs.30,00,000/- before this Hon'ble Court on 21.02.2023 by way of demand draft bearing No.020209, drawn on HSBC Bank, Bengaluru the same was realized on 15.03.2023 into the account of the Registrar, High Court of Karnataka and the appellants have no objection to returning the amount of Rs.30,00,000/- in favour of the respondents No.2 to 5 equally i.e., a sum of Rs.7,50,000/- to each of the respondent No.2 to 5.

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5. The Respondents have agreed to receive the above-mentioned amounts in full and final settlement of the dispute and declare/affirm that there are no further dues pending to them.

6. The Respondents have agreed and assure the appellants that they will not claim any right, title, interest or possession over the suit schedule property based on the memorandum of understanding dated 19.09.2018 entered in respect of the suit schedule property in Com.O.S. No. 613/2021 and the memorandum of understanding dated 19.09.2018 is hereby mutually cancelled between the parties and the Respondents will not enforce the judgment and decree passed in Com.O.S.No.613/2021.

7. The Respondents have assured the appellants that the appellants are at liberty to enjoy the suit schedule property as per their will and wish and the Respondents will not claim any right in the Schedule property. Further, the Respondents will not interfere with the possession of the appellants in respect of the Schedule Property.

8. The Respondents have agreed to withdraw the pending criminal case in C.C.No.15995/2022, pending on the file of the 6th Additional Chief Metropolitan Magistrate at Bengaluru, in view of the

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settlement arrived between the appellants and respondents in respect of the suit claim based on the Memorandum of understanding dated 19.09.2018

9. It is submitted that the Appellants and the Respondents have entered into this compromise out of their own volition, free will and without any undue influence, or coercion from any angle and they have signed this compromise after verifying and understanding the terms of this compromise.

10. In view of the settlement arrived at permissible court fee may kindly be refunded in the name of Appellant No.1 for which appellant No.2 has no objection".

4. Consequent upon settlement of the issues

emerged between the parties, the appeal is hereby disposed

of in terms of the compromise petition. The parties to the

proceedings have subscribe their signatures in the order-

sheet of the compromise petition. Draw decree accordingly.

5. In view of the submission made by the learned

counsel for the appellants, a sum of Rs.30 Lakhs deposited

by the appellants before this Court in pursuance of the order

passed by this Court on 30.01.2023 be transmitted to the

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account of Respondent Nos.2 to 5 equally, if they furnish

their account details. Accordingly, Registry is directed to